The Argentine Peanut Chamber insists on the total removal of withholdings: It is more urgent than ever

Published 2022년 11월 14일

Tridge summary

The Argentine Peanut Chamber (CAM) is urging the government to abolish export duties on peanut products in response to a 13% reduction in planting area due to drought and increased production costs. The chamber believes the taxes are damaging the industry's global competitiveness, with countries like Russia and Algeria opting for cheaper imports from Brazil, which does not impose withholdings. The CAM stresses that the maintenance of these duties is detrimental to the market share of Argentine peanuts.

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Original content

The Argentine Peanut Chamber (CAM) issued a statement in which it “urgently” called on the Government to completely eliminate export duties on all products sent by this sector abroad. In 2021, some products of this regional economy received a reduction in withholdings, but now the CAM considers that "it is more urgent than ever" to remove this tax, due to two reasons. LOOK Peanut Special: all about the 2022/23 campaign of this crop In the first place, the drought that will reduce the planted area by 13% and will affect the income of companies in this industry. Secondly, the loss of competitiveness, with important purchasing destinations such as Russia and Algeria that, in the face of the global crisis, opt for cheaper origins, such as Brazil, where there are no withholdings. The Argentine peanut complex requests the total elimination of export duties Given the loss of global competitiveness and the severe drought that affects the region that produces the crop, the regional economy ...

Source: ARInfocampo